As a general rule, our intention is that all of the investments on Abundance can be traded on the marketplace with no restrictions. However, in the following instances you will not be able to list an investment for sale on the Abundance marketplace:
The investment has not yet, or only recently, reached its target and closed
Usually, until we transfer the funds to the issuing company, an investment cannot be listed on the marketplace. The money raised for an investment is generally not transferred over to the issuing company until the following criteria have been met:
- The minimum target raise amount has been met.
- The 14 day cooling off period has elapsed for all investors whose investment is being transferred.
- The issuing company has satisfied the conditions required for the project to go ahead and generally set out in the Schedules to the Debenture Deed.
In the event that an investment doesn't reach the minimum target before the final close date, or the issuer is unable to satisfy the conditions necessary for the transfer of funds, Abundance will return the money in full to all investors' Abundance accounts.
There is a Cash Return payment due to be paid within the next three days
It is not possible to list an investment for sale where the close date of the offer is after the next Cash Return date. This is because the value of an investment will change after the Cash Return has been made, so any bids received before will no longer be valid.
If the investment is put up for sale before a Cash Return, the close date of the offer must be more than 2 days before the Cash Return due date to allow enough time for an offer to close, the seller and buyer to agree a price and for Abundance to finalise the trade ahead of the Cash Return payment to the new holder. We will conclude trades that have been agreed up to 5pm on the day before the Cash Return.
You will therefore not be able to list an investment for sale 3 days before the Cash Return due date. The investment will be available to list again the day after the Cash Return.
Restrictions where we feel it is required to ensure the integrity of the marketplace
There may be occasions when Abundance restricts the sale of a particular investment on the marketplace and we reserve the right to do so where we feel it is in the interests of Abundance members.
For example, there may be specific instances where certain information is restricted to investors only due to an ongoing legal process or other sensitive matter. In these rare cases we reserve the right to restrict trading of the investments on the marketplace until such a time as the company is in a position to make information available to both investors and non-investors. This is to ensure that there is no mismatch of information between holders of an investment and non-investors so that all of our investments can be fairly traded on the marketplace.
We will keep any such situations under close review and look to make trading available as soon as possible.